What the Heck?

In his "What The Heck" segment, Cramer examined the puzzling stock of OfficeMax (OMX) , which is up a stellar 122% so far this year during a time when small businesses, the company's bread and butter, are pulling back the reins.

Cramer said that at first investors might think the economy simply isn't that bad, but that's not the case. Rival Staples (SPLS) is seeing its shares slide 16% so far this year. That makes the move at OfficeMax an OfficeMax story, not an industry one.

There are three things going in OfficeMax's favor, said Cramer. First, the company set very low expectations last year. So this year, even a 2% decline in same-store sales is being treated as good news. The results aren't good, noted Cramer, but they were expected.

Second, OfficeMax is getting its fiscal house in order. The company reinstated its dividend, giving it a modest yield of 1%, and it is simplifying its balance sheet. OfficeMax owns a 20% stake in Boise Cascade , which makes wood products and building materials. That company is preparing to return to the public market in an IPO soon, which finally give's OfficeMax's 20% stake a value.

Finally, Cramer said OfficeMax has a leg up on its competition because the company started closing stores and reducing its footprint early, which leaves it the best positioned when the economy rebounds.

Cramer said he's not a buyer of OfficeMax at these levels, but would consider it if the fiscal cliff takes the markets lower.

Mad Mail

In the "Mad Mail" viewer feedback segment, Cramer followed up on InContact (SAAS) , which stumped him during an earlier show. Cramer said it's too early to invest in this company and suggested SAP instead.

Cramer was also bearish on Textainer Group Holdings (TGH) , a stock he said looks cheap but really isn't.

When asked about Celldex Therapeutics (CLDX) , Cramer said he'd wait for the company to release its latest data on Dec. 8, then buy on a pullback if the data are positive.

Cramer was an outright bull on Hillenbrand (HI) , however, saying he likes the company's outlook and its 3.6% yield.

Finally, Cramer was bullish on Regeneron (REGN) and said he would be a buyer.

No Huddle Offense

In his "No Huddle Offense" segment, Cramer told viewers not to extrapolate that all of China must be weak just because Yum Brands (YUM) reported a 4% decline in same-store sales. He said the Chinese picture may be mixed for many U.S. companies operating there, but he's still bullish on the country's long-term prospects.